Farmland Partners Inc. reports developments for an internally managed farmland REIT that owns and seeks to acquire North American farmland, leases agricultural real estate, and makes loans to third-party farmers and landowners secured by farm real estate or related agricultural assets. Company updates commonly address operating results, AFFO, rental portfolio activity, loan-program allowances, property dispositions, and the mix of farmland and agricultural dealership properties.
FPI news also includes dividend declarations, annual tax treatment of distributions, REIT status, balance-sheet actions such as preferred-unit redemptions, and governance or shareholder-meeting items tied to its common stock and operating partnership units.
Farmland Partners (NYSE: FPI) reported Q3 2020 financial results, showing net income of $0.6 million, an improvement from a net loss of $1.5 million in Q3 2019. Basic net loss to common stockholders was $0.09 per share, compared to $0.15 per share the previous year. Total operating revenues increased to $10.6 million from $9.8 million year-over-year. Adjusted Funds from Operations (AFFO) remained negative at $(1.4 million). The company also declared a quarterly cash dividend of $0.05 per share payable on January 15, 2021. Despite challenges from COVID-19, the outlook for farmland values remains stable.
Farmland Partners Inc. (NYSE:FPI) announced it will release its financial results for Q3 2020 on November 9, 2020, before 9:00 a.m. ET. A conference call will also be held on the same day at 11:00 a.m. ET to discuss these results and provide updates. Investors can participate via phone or listen to a live webcast on the company's website. A replay of the call will be available from November 9 at 1:00 p.m. ET until November 19 at 11:59 p.m. ET.
Farmland Partners Inc. (NYSE: FPI) reported Q2 2020 financial results, revealing a net income of $0.2 million and a basic net loss to common stockholders of $0.10 per share, compared to a net income of $6.5 million and $0.09 per share the previous year. The company recorded Adjusted Funds from Operations of $(1.4 million) for Q2 2020, showing a slight improvement from $(1.6 million) in Q2 2019. The company also repurchased shares and declared a quarterly cash dividend of $0.05. The impact of COVID-19 on operations has been limited, with expectations for long-term stability in farmland value.
Farmland Partners Inc. (NYSE:FPI) announced a delay in releasing its financial results for the quarter ended June 30, 2020. The earnings release, initially scheduled for August 5, 2020, will now take place before 9 a.m. on August 10, 2020. The related conference call, originally set for August 6, 2020, will also be rescheduled to August 10, 2020, at 11 a.m. (Eastern Time). Farmland Partners manages a portfolio of approximately 156,500 acres across 16 states and offers loans secured by farmland.
Farmland Partners Inc. (NYSE:FPI) will release its financial results for Q2 2020 on August 5, 2020, at 4:00 p.m. ET. A conference call to discuss the results will be held on August 6, 2020, at 11:00 a.m. ET. Investors can join the call via phone or through a live webcast on the company's website. A replay will be available from August 6 until August 20. The company, focused on acquiring North American farmland and providing loans to farmers, currently owns 156,500 acres across 16 states and manages over 100 tenants.